This is my scenario my business Amex bill is 4-5 months old. account went to collections which is nationwide credit. nationwide credit has had the account for 4 days, told me she came into work so she can help me...she asked how was I going to pay the debt. I told her i was in the process of a refi, she told me to bad...amex is going to put a lien on my house on monday at 9am (tomorrow) and that I needed to pay her check by phone or by credit card before 9am. The she told me amex canceled my account, but would give me a credit card with a balance of half the amount due. Is that illegal? So when I called amex, they said it went to collections, and they have nothing to do with it anymore....they also said my account was canceled and I would need to reapply if I wanted another card. SO now I know this women is lying...what do I tell her so I can buy more time to pay this bill? I have every intention of paying it when my refinance goes through. Does she have to notify me by mail? Can I dispute it with her on the phone? Please help!
I think what they are referring to is the AMEX Oasis program. If your AMEX account is closed, you must pay the balance in full and then the Oasis program let's you get an Optima card with a credit line equal to 50% of your old card. There is no credit check. You must ask to participate because they don't solicit you. As long as you pay the Optima bill on time for 12 months, AMEX claims they will increase yourcredit line and also give you a regular AMEX card as long as your FICO and other credit history passes their scoring.
